Dublin, Jan. 21, 2019 (GLOBE NEWSWIRE) -- The "Artificial Intelligence in Healthcare Market by Offering (Hardware, Software, Services), Technology (Machine Learning, NLP, Context-Aware Computing, Computer Vision), End-Use Application, End User, and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The AI in healthcare market is expected to be valued at USD 2.10 billion in 2018 and is likely to reach USD 36.15 billion by 2025, at a CAGR of 50.2% during the forecast period.
Major drivers for the market are increasingly large and complex data set driving the need for AI; growing demand to reduce the increasing healthcare costs; improving computing power and declining hardware cost; growing number of cross industry partnerships and collaborations; and increasing imbalance between health workforce and patients driving the need for improvised healthcare services. The major restraint for the market is the reluctance among medical practitioners to adopt AI-based technologies and lack of skilled workforce. Critical challenges facing the AI in healthcare market include lack of curated healthcare data; concerns related to data privacy; and lack of interoperability among AI solutions. Underlying opportunities in the AI in healthcare market include growing potential of AI-based tools for elderly care and increasing focus on developing human-aware AI system. The AI in healthcare market has been segmented into offering, technology, end-use application, end user, and geography. This report is based on an extensive research study of the AI in healthcare market; it aims to analyze the entire market and all its segments through extensively detailed classifications. AI is a technology capable of imitating human-like intelligence. Since its inception, AI in healthcare has expanded its reach across end-use applications.
The major application areas of AI in healthcare include patient data and risk analysis, inpatient care and hospital management, healthcare imaging and diagnostics, lifestyle management and monitoring, and virtual assistants. A few newest applications of AI in healthcare are in emergency rooms, mental health, and surgery procedures. The AI in healthcare market in North America was the largest and is expected to grow at the highest CAGR, among all other regions during the forecast period.
Key Topics Covered:
1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights 4.1 Attractive Opportunities in AI in Healthcare Market 4.2 AI in Healthcare Market, By Offering 4.3 AI in Healthcare Market, By Technology 4.4 Europe: AI in Healthcare Market, By End User and Country 4.5 AI in Healthcare Market, By Country 5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Increasingly Large and Complex Data Set 5.2.1.2 Growing Demand to Reduce Healthcare Costs 5.2.1.3 Improving Computing Power and Declining Hardware Cost 5.2.1.4 Growing Number of Cross-Industry Partnerships and Collaborations 5.2.1.5 Rising Need for Improvised Healthcare Services Due to Imbalance Between Health Workforce and Patients 5.2.2 Restraints 5.2.2.1 Reluctance Among Medical Practitioners to Adopt AI-Based Technologies 5.2.2.2 Lack of Skilled AI Workforce and Ambiguous Regulatory Guidelines for Medical Software 5.2.3 Opportunities 5.2.3.1 Growing Potential of AI-Based Tools for Elderly Care 5.2.3.2 Increasing Focus on Developing Human-Aware AI Systems 5.2.4 Challenges 5.2.4.1 Lack of Curated Healthcare Data 5.2.4.2 Concerns Regarding Data Privacy 5.2.4.3 Lack of Interoperability Between AI Solutions Offered By Different Vendors 5.3 Value Chain Analysis 5.4 Case Studies 5.4.1 Mayo Clinic's Centre for Individualized Medicine Collaborated With Tempus to Personalize Cancer Treatment 5.4.2 Microsoft Collaborated With Cleveland Clinic to Identify Potential At-Risk Patients Under Icu Care 5.4.3 Nvidia and Massachusetts General Hospital Partnered to Use Artificial Intelligence for Advanced Radiology, Pathology, & Genomics 5.4.4 Microsoft Partnered With Weil Cornell Medicine to Develop AI-Powered Chatbot 5.4.5 Partners Healthcare and Ge Healthcare Entered Into 10-Year Collaboration for Integrating AI Across Continuum of Care 6 Artificial Intelligence in Healthcare Market, By Offering 6.1 Introduction 6.2 Hardware 6.2.1 Processor 6.2.1.1 MPU 6.2.1.2 GPU 6.2.1.3 FPGA 6.2.1.4 ASIC 6.2.2 Memory 6.2.2.1 High-Bandwidth Memory is Being Developed and Deployed for AI Applications, Independent of ITs Computing Architecture 6.2.3 Network 6.2.3.1 Nvidia (US), Intel (US) and Mellanox Technologies (Israel) are the Key Providers of Network Interconnect Adapters for AI Applications 6.3 Software 6.3.1 AI Solutions 6.3.1.1 On-Premises 6.3.1.1.1 Data-Sensitive Enterprises Prefer On-Premises' Advanced NLP and ML Tools to Be Used in AI Solutions 6.3.1.2 Cloud 6.3.1.2.1 The Cloud Provides Additional Flexibility for Business Operations and Real-Time Deployment Ease to Companies That are Implementing Real-Time Analytics 6.3.2 AI Platform 6.3.2.1 Machine Learning Framework 6.3.2.1.1 Major Tech Companies Such as Google, IBM, Microsoft are Developing and Offering Their Own ML Frameworks 6.3.2.2 Application Program Interface (API) 6.3.2.2.1 APIs are Used When Programming Graphical User Interface (GUI) Components 6.4 Services 6.4.1 Deployment & Integration 6.4.1.1 Need for Deployment and Integration Services for AI Hardware and Software Solutions is Supplementing the Growth of Services 6.4.2 Support & Maintenance 6.4.2.1 The Ultimate Objective of Maintenance Services is to Keep the System at an Acceptable Standard 7 Artificial Intelligence in Healthcare Market, By Technology 7.1 Introduction 7.2 Machine Learning 7.2.1 Deep Learning 7.2.1.1 Deep Learning Enables A Machine to Build A Hierarchical Representation. 7.2.2 Supervised Learning 7.2.2.1 Classification and Regression are Major Segmentation of Supervised Learning 7.2.3 Reinforcement Learning 7.2.3.1 Reinforcement Learning Allows Systems and Software to Determine Ideal Behaviour for Maximizing Performance of the Systems 7.2.4 Unsupervised Learning 7.2.4.1 Unsupervised Learning Include Clustering Methods Consisting of Algorithms With Unlabelled Training Data 7.2.5 Others 7.3 Natural Language Processing 7.3.1 NLP is Widely Used By the Clinical and Research Community in Healthcare 7.4 Context-Aware Computing 7.4.1 Development of More Sophisticated Hard and Soft Sensors has Accelerated the Growth of Context-Aware Computing 7.5 Computer Vision 7.5.1 Computer Vision Technology has Shown Significant Applications in Surgery and Therapy 8 Artificial Intelligence in Healthcare Market, By End-Use Application 8.1 Introduction 8.2 Patient Data and Risk Analysis 8.2.1 Growth in Healthcare Data has Escalated Patient Data and Risk Analysis Application 8.3 Inpatient Care & Hospital Management 8.3.1 Demand to Reduce the Operational Cost in Hospitals to Generate Demand for AI-Based In-Patient Care and Hospital Management 8.4 Medical Imaging & Diagnostics 8.4.1 Growth in Medical Imaging Data has Propelled the Growth of Medical Imaging and Diagnostics Application 8.5 Lifestyle Management & Monitoring 8.5.1 AI Solutions for Lifestyle Management and Monitoring Helps Patients in Making Healthier Lifestyle Changes 8.6 Virtual Assistant 8.6.1 Increasing Demand to Improve Follow-Up Care, Especially for Patients With Chronic Diseases, is Driving the Growth of Virtual Assistants 8.7 Drug Discovery 8.7.1 AI to Reduce the Time and Cost Required in Drug Discovery 8.8 Research 8.8.1 Growing Adoption of Different Types of AI Algorithms Among Bioinformatics Researchers, Especially for Classifying and Mining Their Databases, is the Key Application of AI in Research 8.9 Healthcare Assistance Robots 8.9.1 Healthcare Assistance Robots Have Been Adopted in Several Areas That Directly Affect Patient Care 8.10 Precision Medicine 8.10.1 AI is Expected to Fulfill the Demand for Personalized Treatment Plans for Patients Administered With Precision Medicine 8.11 Emergency Room & Surgery 8.11.1 Limited Workforce in Emergency Rooms and Demand to Support Clinicians With Surgical Data to Drive the Growth of AI in Emergency Room and Surgery 8.12 Wearables 8.12.1 Wearable Devices are Clinically Useful for Improving Real-Time Monitoring of Patients 8.13 Mental Health 8.13.1 Increase in Mental Disorders Across the World is the Key Factor Supporting the Growth of Mental Health Application 9 Artificial Intelligence in Healthcare Market, By End User 9.1 Introduction 9.2 Hospitals and Providers 9.2.1 AI Can Be Utilized to Predict and Prevent Readmissions, and Improve Operations Among Hospitals and Providers 9.3 Patients 9.3.1 Smartphone Applications and Wearables to Drive the Adoption of AI Among Patients 9.4 Pharmaceutical and Biotechnology Companies 9.4.1 Applications Such as Drug Discovery, Precision Medicine, and Research to Drive AI in Pharmaceutical and Biotechnology Companies 9.5 Healthcare Payers 9.5.1 Healthcare Payers Use AI Tools Mainly for Managing Risk, Identifying Claims Trends, and Maximizing Payment Accuracy 9.6 Others 9.6.1 Patient Data and Risk Analytics and Healthcare Assistance Robots to Drive the Growth of AI in ACOS and MCOS 10 Artificial Intelligence in Healthcare Market, By Region 11 Competitive Landscape 11.1 Overview 11.2 Ranking of Players, 2017 11.3 Competitive Scenario 11.3.1 Product Developments and Launches 11.3.2 Collaborations, Partnerships, and Strategic Alliances 11.3.3 Acquisitions & Joint Ventures 12 Company Profiles 12.1 Key Players 12.1.1 Nvidia 12.1.2 Intel 12.1.3 IBM 12.1.4 Google 12.1.5 Microsoft 12.1.6 General Electric (GE) Company 12.1.7 Siemens Healthineers (A Strategic Unit of the Siemens Group) 12.1.8 Medtronic 12.1.9 Micron Technology 12.1.10 Amazon Web Services (AWS) 12.2 Other Major Companies 12.2.1 Johnson & Johnson Services 12.2.2 Koninklijke Philips 12.2.3 General Vision 12.3 Company Profiles, By Application 12.3.1 Patient Data & Risk Analysis 12.3.1.1 Cloudmedx 12.3.1.2 Oncora Medical 12.3.1.3 Zephyr Health 12.3.1.4 Sentrian 12.3.1.5 Careskore 12.3.1.6 Linguamatics 12.3.2 Medical Imaging & Diagnostics 12.3.2.1 Enlitic 12.3.2.2 Bay Labs 12.3.2.3 Butterfly Networks 12.3.2.4 Imagia Cybernetics 12.3.3 Precision Medicine 12.3.3.1 Precision Health AI 12.3.3.2 Cota 12.3.3.3 FDNA 12.3.4 Drug Discovery 12.3.4.1 Recursion Pharmaceuticals 12.3.4.2 Atomwise 12.3.4.3 Deep Genomics 12.3.4.4 Cloud Pharmaceuticals 12.3.5 Lifestyle Management & Monitoring 12.3.5.1 Welltok 12.3.5.2 Vitagene 12.3.5.3 Lucina Health 12.3.6 Virtual Assistants 12.3.6.1 Next IT (A Verint Systems Company) 12.3.6.2 Babylon 12.3.6.3 Mdlive 12.3.7 Wearables 12.3.7.1 Magnea 12.3.7.2 Physiq 12.3.7.3 Cyrcadia Health 12.3.8 Emergency Room & Surgery 12.3.8.1 Caresyntax 12.3.8.2 Gauss Surgical 12.3.8.3 Perceive3d 12.3.8.4 Maxq AI 12.3.9 In-Patient Care & Hospital Management 12.3.9.1 Qventus 12.3.9.2 Workfusion 12.3.10 Research 12.3.10.1 Icarbonx 12.3.10.2 Desktop Genetics 12.3.11 Mental Health 12.3.11.1 Ginger.Io 12.3.11.2 X2AI 12.3.11.3 Biobeats 12.3.12 Healthcare Assistance Robots 12.3.12.1 Pillo 12.3.12.2 Catalia Health
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